Philip Elmer-DeWitt / Apple 3.0 – Philip Elmer-DeWitt
How Wamsi Mohan rationalizes BofA’s Street-high Apple target – From a note sent last week to Bank of America Securities clients. Investment Rationale Our Buy rating on Apple is based on 1. Strong iPhone upgrade cycle in F23 driven by the need for higher connectivity which will enable new AR/VR applications, 2. Higher growth in Services revenues, 3. Expectation …
